1: FIND OUT HOW MUCH HOME YOU CAN AFFORD
This may seem obvious to you but believe it or not, most people
don't know how much home they can afford to buy. Would you go
to the grocery store to do your weekly shopping if you had no
idea how much money you had to spend? Probably not. You would
probably look at your budget and stay within those basic constraints.
The same thing holds true when buying a home, but on a much
larger scale. Discovering how much home you can afford is called
pre-qualifying. This is a very simple and painless procedure
which can usually be done over the telephone by an experienced
mortgage professional called a "Broker".
The broker will review your income, debts and expenses to
arrive at a fairly accurate estimation of how much home you
can afford. If you prefer, a representative from Nexus Financial
Group® will run your information through our Computerized
Nexus Analysis System giving you a very accurate account of
how much home you can afford. There is no cost for this service
and we are glad to do it. Often, you'll qualify for much more
home than you thought you would!
We then go over exactly what your wants, needs and desires
are and then tailor a loan especially for you and your needs.
We call this our "Value Plan", giving you a loan amount, combined
with favorable interest rates and comfortable payments makes
moving on to step 2 easy.
2: PRE-APPROVAL - THE KEY TO SUCCESS!
Pre-approval means getting approved for your mortgage ahead
of time. Don't confuse this with pre-qualifying. Pre-approval
is where you actually apply for the loan and get approved by
a lender for specific amount of money and a specific loan to
value ratio. The loan to value ratio is the percentage of the
loan amount in relation to the value of the home, the difference
is your down payment. We have been able to get many of our customers
their dream homes with as little as a 3% down payment. Now when
you find your dream home, you only need an appraisal and you
can close on your home in only one week! This is a very valuable
buying tool! It gives you the negotiating power of a cash buyer,
which often could save you thousands of dollars off the price
of your dream home. Here's how...
You and another buyer both put offers on the same home at
the same time but your offer is for $1,200 less. The other buyer
didn't get pre-approved, this means if the seller accepts their
offer, they must take their home off the market for a month
or more while the buyers go through this process. If they don't
get approved then the sellers have to start all over by putting
their home back on the market again.
Most people believe that a bird in the hand is worth two in
the bush and would rather have your guaranteed offer of $1,200
less with a quick, smooth cash-like closing. You just saved
$1,200! Imagine how much more negotiating power you would have
on a distressed property where the sellers NEED cash fast, or
on a foreclosed or repossessed property.
This really works!
Another advantage is that your Realtor will work extra hard
for you, concentrating all his efforts on finding you your dream
home since he knows you're already approved for a loan. The
only thing standing between him and a sale is that he needs
to find you your dream home. Pretty strong incentive right?
Also, if you have any credit blemishes or any other unique
situations, we have time to take care of them before you enter
into contract and start making moving plans. It will also give
you tremendous peace of mind, and besides, it's something you
need to do before buying a home anyway!
Nexus Financial Group® will be happy to provide you with
a pre-approval and give you a certificate worth $100 off your
closing costs. Call today to arrange a convenient appointment
or to get pre-approved by mail, in person, or over the internet.
3: GET FREE PROFESSIONAL HELP
Now that you know how much house you can afford to buy and
how much money you'll need to close, it's time for the fun part...Finding
your dream house! If you're like most people these days, you
don't have much time to go driving around looking at several
homes just to find out that most of them aren't at all what
you're looking for. This is where it pays to use a Professional
Real Estate Agent. The seller of the home usually pays the commissions
for the Realtors so it's like you're getting the services of
a professional for absolutely free! Let them weed out all the
homes you're not interest in, this way you only spend time seeing
the homes with true potential. Taking a little time in the beginning
to get the right people on "your team" will save you time, effort,
money and grief later on.
Here are some tips for finding and choosing the right Realtor:
- Ask friends and family for names of Realtors that have done
a great job for them in the past. (Be wary of using a Realtor
that is a relative or close friend unless they are extremely
qualified. It could cause a very uncomfortable situation,
especially if you're unhappy and need to fire them).
- Ask a qualified mortgage professional for the names of his
favorite Realtors. It is very important that your mortgage
broker and real estate broker work well together. Any mortgage
broker that is active should have a good relationship with
many of the more respected Realtors in town and will be happy
to refer you to them. Nexus Financial Group® has a computerized
network Realtor referral system and gives you the names of
the Realtors we work very closely with that specialize in
the desired area and price range of your dream home.
- Drive the area. If you already have a good idea of where
you want to buy, drive around in that area and look for the
one or two really prominent Realtor signs. Chances are strong
that they know a great deal about the strengths and weaknesses
of that area and which ones are offering the best deals.
- Interview the Realtors. This is very important. You are
about to enlist this person to represent you in possibly the
biggest purchase of your life. You must feel comfortable with
their knowledge, experience and integrity. Don't be shy to
call and ask them questions, not only about their experience
and what they can do, but also about themselves so you can
get a real feel for that person. You need to feel comfortable
with the person helping you to find your dream home.
4: FINDING YOUR DREAM HOME QUICKLY
Now it is time to put your Realtor to work finding your ideal
dream home. The key is to be very specific when describing your
home requirements. This helps the Realtor narrow it down for
you. There is no reason to look at 100 homes when you can find
your dream home in a narrowed down selection of only 4 or 5.
After driving by the potential homes your Realtor suggests,
choose the ones that most closely resemble your desired home
from the outside. Your Realtor will then give you a tour inside
these homes and when you find your dream home, your Realtor
will help you negotiate the best deal.
This is the surest, quickest and most effective way to find
your perfect home and can save you months of searching.
5: NEGOTIATE THE LOWEST SALES PRICE
So you and your Realtor have found the perfect house, in the
perfect neighborhood, - your dream home. You know you can afford
it because you're pre-approved ... Great! Now comes the negotiation.
Remember that a home purchase is a free market, arms length
transaction between a willing seller and an able buyer, the
price is whatever you two agree upon.
It is usually best to allow the Realtor to negotiate on your
behalf. They have experience in negotiating on properties and
can usually do a better job, remember, this is what they do
for a living. They will work with you by pulling up all the
comparable sales in that area in the past year and discussing
with you the proper strategy for your offer. The average home
sells for close to 95% of the asking price. Being pre-approved
can help you increase that difference.
Since there are so many factors that go into each negotiation,
it would be difficult to outline them all here - every sale
is unique. Your Realtor should be able to answer all your real
estate questions. If you don't have a Realtor because you're
buying a home that is for sale by owner, or if you have any
questions about these 5 easy steps to getting your dream home,
give us a call at Nexus Financial Group® and we'll be glad
to help. Remember ... we're "The People's Broker'.
NEVER TOO EARLY TO START!
Your dream home is just 5 easy steps away. Don't get left
out and Don't get left behind.
Many people become disappointed by not buying their dream
home today, instead they wait until next year when they can
save up another $5,000 toward the down payment in an effort
to lower their monthly payments. The sad thing is, when they
have finally saved up another $5,000, the value of their dream
home may have gone up another $10,000 - $15,000. Now they're
several thousand dollars worse off than if they would have bought
today. Southeastern home prices are expected to appreciate in
the next couple of years. You can ride that tidal wave of appreciation
by making inflation work for you instead of against you.
Following Brian Peart's 5 Easy Steps To Buying The Perfect
Home will save you time, stress and money. Even if you don't
plan on buying your dream home for another year or so, getting
pre-qualified now helps you set your goals for saving your down
payment. It also gives you plenty of time to correct any credit
situations. The easiest way to get started on your 5 Easy Steps
is to call Nexus Financial Group in Florida toll-free at 800-905-0452
or 866-355-1244 in Georgia. Remember... It doesn't cost you anything
and by calling us you'll receive a free certificate worth $100
off your closing costs.
It pays to have the entire Nexus Financial Group® behind